Dr Reddy’s Laboratories (RDY) has released an update.
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Dr. Reddy’s Laboratories Ltd. has informed relevant stock exchanges about receiving a tax demand order, including interest and penalty, from the GST Authority. The company received the appellate order on July 12, 2024, which was related to a rejected appeal concerning GST credit availment. Despite the penalty of Rs. 39,866, Dr. Reddy’s assesses that there will be no material impact on its financials or operations and is considering an appeal against the order.
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